John Fund looks at Judge Roy Moore and speculates on a Roy Moore presidential candidacy — one that would lose, but could put the country in the hands of the Democrats.

A big threat to President Bush’s re-election could come if his conservative base chooses not to turn out and vote in large numbers this fall. That’s one reason he told a congressional Republican retreat on Saturday that he supports spending caps on the exploding federal budget. But the president could also still face a challenge from a social conservative running as a third-party candidate.

In the past such candidacies have fizzled. But Roy Moore, the ousted Alabama Supreme Court justice who made headlines last year by refusing to remove a Ten Commandments monument he placed on public property, could make a difference in a close race. And just last week, he refused to rule out a presidential candidacy.